This past week HRN began shipping the 2011 Compease update CD-ROM to clients. Each year HRN compensation analysts update all Compease compensation information with current data gathered from a wide variety of top industry compensation and salary survey resources.
In addition to updated compensation content, the 2011 Compease system includes some major enhancements. These enhancements include:
- New enhanced user interface
- Video Introduction for 2011 installation process
- Launch Merit Increase or Bridge from within Structured Compensation
- Company Master – dropdown menu to select asset/revenue range (replaces key entry).
- Job Description Report – Name, employee signature and date added.
- Archived Employee Master Report – Birth date, gender, race and termination date added.
- Salary Range Report – Locations consolidated to one page per geographic index.
- Range Selector feature to allow you to choose 2008, 2009, 2010 or 2011 ranges. The data year will be displayed on all reports.
- Additional optional fields in the Employee Master, including incentive pay, gender, date of birth, race and e-mail address
- Archive Employee Master now includes termination date and reason
For more information about Compease and to see a live online demonstration of the just released 2011 update, contact HRN at firstname.lastname@example.org or call 800-940-7522.
It’s no secret that here at HRN we practice what we preach regarding best practices in compensation administration and employee performance management. For example, at HRN we utilize Compease for establishing salary grades and comp levels based on current and accurate market data. We regularly update Compease with new and current compensation data compiled from the most trusted and respected sources.
In my regular review of HR news and information sources I came across a live online survey on hr.blr.com asking this simple question: How often does your org. audit its compensation plan to ensure fairness and equity in employees pay?
The reason this question stopped me in my tracks was because it is one of the first questions our compensation consultants ask prospective clients when discussing their compensation plan and strategy. So I was quite interested in seeing the results. And what I saw was surprising; especially when you consider that all repsondents are HR professionals who should know better.
The good news is that 30% do audit their comp plan at least once each year. Hopefully these are all Compease clients because this annual update and review function is included in the solution. But what really did surprise me is that an equal amount; nearly one-third have never audited their compensation plan! Never? The next highest number of respondents at 17% selected the ‘less frequently than 3 years’ option. Now I understand this is an unscientific and uncontrolled online poll but even with a margin of error of 10% it’s still a significant finding.
How can a company remain competitive and justify their bottom line if they have no true understanding of what other companies of the same size, in the same industry and geographical region are paying staff members for specific job functions and taking into account experience, education, and performance? With no researched and current comp plan in place a company is at risk of either overpaying employees, resulting in lower profitability, or underpaying key contributors and risking high attrition and turnover. Turnover costs the company money to recruit, hire, and train new staff.
When I see data like this I am motivated as a marketer to do a better job in communicating the benefits of Compease to HR professionals.
Having an annually updated and reliable comp plan in place does not have to be difficult, expensive, or time consuming. HRN has the solution. It’s called Compease. Give us a call and talk to a compensation professional or check it out online at here. Or better yet . . . attend a demo.
SALT LAKE CITY (July 9, 2009) – Jerry P. Nelson, President and CEO of HRN Management Group today announced the acquisition of Wichita, KS based Koker Goodwin & Associates. Koker Goodwin & Associates has been operating since 1996 providing performance-based employee compensation software and consulting services. Their two primary HR management products are Compease compensation administration software and iPerformease online performance planning and coaching solution. HRN has been a long time Compease sales, implementation and training partner.
Financial details of the acquisition were not disclosed. This is the second acquisition for HRN during the past twelve months. In July, 2008 HRN added an HR consulting and executive search division by merging with HRValue Group.
Mr. Nelson stated, “The merger of Koker Goodwin & Associates and HRN culminates a working relationship that has spanned well over a decade and brings together two of the premier compensation and performance management organizations in the country. The synergies will be huge and the outlook for future growth and professionalism is without limit. Clinton Koker and Mike Goodwin have been great friends and business associates for years; to be working with them within the same organization will be outstanding.”
Clinton R. Koker, CEO of Koker Goodwin & Associates added to Mr. Nelson’s remarks by saying, “During the past twelve years we have worked in partnership with HRN Management Group. That partnership has proven to be beneficial to HRN, Koker Goodwin and Associates and our clients. This merger is only natural and I believe will further the objectives of providing high quality, cost-effective human resource consulting and software solutions for our mutual clients.”
Additional information about Koker Goodwin & Associates can be found on the Internet at www.kgassociates.com.